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BoE's Plenderleith Predicts Euro Trading Will Centre In London

REGULATIONS

FX Week staff

01 Apr 1996

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If a single European currency starts trading on January 1, 1999 as proposed, the euro (as it has been deemed) would likely find its "centre of gravity" in London and quickly establish itself as a major international trading and investment currency, alongside the dollar and yen.

That is the scenario predicted by Ian Plenderleith, executive director of the Bank of England, speaking last week at the bi-annual prize giving of the Institute Investment Management and Research in London. His speech,